Riverside, a podcast recording platform, announced on Monday that it has secured $30 million in Series C funding led by Zeev Ventures, with participation from Seven Seven Six and angel investor Sam Lessin. This new investment brings the total amount of funding Riverside has received to date to $80 million.
Founding History and Growth
Founded in 2020, Riverside began as a podcast recording platform designed for remote collaboration during the pandemic. The company’s initial focus was on features that allowed participants in different locations to record separate audio tracks with automatic backups, ensuring that if one participant’s feed experienced a glitch, the recording wouldn’t be affected.
Recent Developments and Expansion
Over the past year, Riverside has expanded its offerings significantly. In addition to launching iOS and iPad apps for on-the-go support of podcast recording in HD resolution, the company debuted a new design that integrates recording, editing, and sharing tools into one place. The platform’s AI-powered editor now supports over 100 languages, includes separate audio and video tracks, and creates automatic clips of memorable moments to share on social platforms.
Key Features and Benefits
Some of the key features that have contributed to Riverside’s success include:
- AI transcription: Supports more than 100 languages
- Separate audio and video tracks: Allows for greater flexibility in editing and sharing content
- Automatic clip creation: Creates memorable moments to share on social platforms
- 80% reduction in editing time: For companies like Google, Microsoft, and Marvel
Partnerships and Competitors
Riverside’s partnership with Spotify has expanded its offerings to include podcast recording and editing tools within the browser window. The company competes with other remote podcast recording tools such as Podcastle, Zencastr, and Camo, which started out as a tool for improving webcam quality.
Future Plans and Vision
Riverside’s founder, Nadav Keyson, aims to make the platform a one-stop shop for all things video. The company wants to become more than just a podcast recording platform, focusing on creating video interviews, thought leadership content, and internal training material. Seven Seven Six’s Alexis Ohanian agrees with this vision, noting that Riverside addresses every step of the creative process with a suite of tools.
Funding and Hiring Plans
Riverside will primarily use the new funding to hire AI and full-stack engineers. The company has roughly 160-170 employees and is not currently profitable but aims to achieve profitability by the end of 2026.
Conclusion
Riverside’s latest funding round demonstrates its growth potential in the podcast recording and content creation space. With a focus on innovation, user experience, and scalability, the platform continues to expand its offerings and partnerships, solidifying its position as a leader in the industry.
About Riverside
- Founded: 2020
- Funding: $80 million (total)
- Recent developments:
- Launched iOS and iPad apps for on-the-go support of podcast recording in HD resolution
- Debuted new design integrating recording, editing, and sharing tools into one place
- Introduced AI-powered editor supporting over 100 languages
About Zeev Ventures
- Leading investor in Riverside’s Series C funding round
- Focused on investing in innovative companies with significant growth potential
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